Bellevue Group AG Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bellevue Group AG decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,935 shares of the company's stock after selling 14,344 shares during the quarter. Bellevue Group AG owned about 0.09% of IDEXX Laboratories worth $31,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $412,258,000. Flossbach Von Storch SE grew its stake in shares of IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after buying an additional 464,791 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $156,412,000. William Blair Investment Management LLC raised its position in shares of IDEXX Laboratories by 701.6% during the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after buying an additional 369,471 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after acquiring an additional 316,048 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 0.2 %

Shares of IDEXX Laboratories stock traded up $0.80 during trading hours on Friday, reaching $490.78. 326,191 shares of the company were exchanged, compared to its average volume of 647,556. The firm has a market cap of $39.77 billion, a PE ratio of 46.00, a PEG ratio of 3.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The stock's fifty day moving average is $422.31 and its 200 day moving average is $429.15.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter last year, the company earned $2.71 EPS. IDEXX Laboratories's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Barclays boosted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $524.75.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.